financetom
Business
financetom
/
Business
/
Zoom Video lifts full-year profit, revenue forecast on robust demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Zoom Video lifts full-year profit, revenue forecast on robust demand
May 20, 2024 1:53 PM

(Reuters) -Zoom Video Communications on Monday raised its forecast for full-year profit and revenue, helped by robust demand for its product portfolio as companies continue to adopt hybrid work models.

The upbeat outlook suggests that Zoom's efforts to incorporate artificial intelligence (AI) into its offerings and broaden its range of services have been successful, capitalizing on the rise of hybrid work.

The company introduced Zoom Workplace, an AI powered, open collaboration platform in March, along with new AI companion expansions, first unveiled in September last year, for paid users.

Zoom, along with platforms like Microsoft's Teams and Cisco's Webex are pandemic darlings, which most businesses and individuals turned to, for connecting with employees and friends.

The company now expects 2025 revenue of about $4.61 billion to $4.62 billion, up from its earlier forecast of about $4.6 billion. Analysts expect revenue of $4.61 billion, per LSEG data.

On an adjusted basis, it expects full-year earnings between $4.99 and $5.02 per share, compared with its previous forecast of between $4.85 and $4.88 per share.

For the second quarter, Zoom sees revenue between $1.145 billion and $1.150 billion, slightly below analysts' average estimate of $1.15 billion.

The company posted revenue of $1.14 billion, up 3.2%, for the first quarter ended April 30, above analysts' expectations of $1.13 billion.

Zoom reported quarterly adjusted earnings of $1.35 per share, also above estimates of $1.20.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
India Morning Newsletter, January 17
India Morning Newsletter, January 17
Jan 16, 2025
To access a PDF version of this newsletter, please click here If you would like to receive this newsletter via email, please register at: https://solutions.lseg.com/MNCIndia-Subscriptionpage For an index of our newsletters click on ...
Boeing resumes 777X test flights after grounding in August 
Boeing resumes 777X test flights after grounding in August 
Jan 16, 2025
* Boeing's ( BA ) long-delayed 777X resumes flight testing after five-month hiatus * Boeing ( BA ) first planned to deliver 777X in 2020, now slated for 2026 * Customers include Emirates, Qatar Airways, Lufthansa, Singapore Airlines SEATTLE, Jan 16 (Reuters) - Boeing ( BA ) resumed testing for its long-delayed 777X widebody jet on Thursday, with the first...
Boeing resumes 777X test flights after grounding in August
Boeing resumes 777X test flights after grounding in August
Jan 16, 2025
SEATTLE (Reuters) - Boeing resumed testing for its long-delayed 777X widebody jet on Thursday, with the first flight since the U.S. planemaker grounded the test fleet in August due to the failure of a key engine mounting structure.  The grounding came just five weeks after it had started certification flights for the 777-9 with officials from the U.S. aviation regulator...
Bird feathers, blood found in two engines of Boeing jet that crashed in South Korea -source
Bird feathers, blood found in two engines of Boeing jet that crashed in South Korea -source
Jan 16, 2025
Seoul, Jan 17 (Reuters) - Investigators found bird feathers and blood in the two engines of the Boeing ( BA ) jet that crashed in South Korea on Dec. 29, a person familiar with the probe told Reuters on Friday. South Korea's transport ministry was not immediately available for comment. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved